The Canadian Real Estate Association reports a decline in home sales in August compared to the previous year, attributed to emerging economic challenges that may hinder market growth for the rest of the year. Total home sales for August reached 37,504, showing a 6.9% decrease from the same period in 2025. When adjusted for seasonal variations, sales dropped by 0.7% compared to July 2026.
According to Shaun Cathcart, CREA’s senior economist, the current economic environment faces risks of increasing inflation and potential interest rate hikes, which could impact sales activity negatively. The national average selling price for homes in August rose to $668,219, marking a 0.6% increase year-over-year.
In August, new listings saw a 3.3% increase from the previous month, breaking a trend of three consecutive declines experienced earlier in the summer.